Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session based on latest developments.
ICICI Bank, ICICI Securities: ICICI Bank said it will sell up to 2.21 per cent stake in brokerage arm ICICI Securities through an offer for sale. The floor price for the sale to be starting from Wednesday has been fixed at Rs 440 apiece, which may fetch the bank at least Rs 313 crore.
TVS Srichakra: Manufacturer of two and three-wheeler tyres TVS Srichakra announced Rs 1,000 crore capital expenditure plan which include ramping up of capacities at its facilities, the company said on Tuesday.
YES Bank: Brickwork Ratings has upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) of Yes Bank Limited to BWR BB+/ Stable.
Indian Bank: State-owned Indian Bank said it has raised Rs 1,048 crore by issuing bonds on private placement basis. The bank has successfully raised tier I capital fund through private placement of Basel III compliant additional tier I perpetual bonds aggregating to Rs 1,048 crore, Indian Bank said in a regulatory filing.
MTNL: State-owned telecom firm MTNL said it will on December 31 seek shareholders' nod to raise Rs 2,138.6 crore as part of sovereign guarantee bond. The government allowed MTNL to raise up to Rs 6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package.
Wipro: Wipro will give wage hikes to junior employees with effect from January 1, 2021. The Bengaluru-based company has also rolled out promotions for high performers in bands up to B3, effective December 1, 2020.
JSW Steel: The company reported a 3% growth in its crude steel production to 13.32 lakh tonnes (LT) for November 2020. JSW Steel's output stood at 12.90 LT in the corresponding month last year.
Tata Steel: S&P Global Ratings has revised the company's outlook to 'stable' from 'negative' and affirmed 'B+' rating.
TCS: Bank Hapoalim, Israel's largest bank that currently manages more than 30% of the total bank guarantees in the country, has signed up as the anchor customer for Tata Consultancy Services' (TCS) new transformative Digital Bank Guarantee platform.
IRB Infra: Acuite Ratings & Research has assigned 'AA- / Stable' rating to the total bank facilities worth Rs 2,600 crore of IRB Infrastructure Developers.
Kalpataru Power Transmission: The board of directors of the company has approved capital expenditure of approx. Rs 207 Crore towards purchase of land and will further incur approx. Rs 170 Crore towards construction, municipal charges, taxes and for other approvals for development & construction of corporate office of about 1, 79,000 sq. ft. of leasable area near its existing office at Santacruz, Mumbai.